Tariffs will not bring back manufacturing. They increase prices of inputs, reduce incentive for competitiveness and invite retaliation. Look how well tariffs have worked for Brazil and Argentina or for the US under Smoot Hawley.
Tariffs will not bring back manufacturing. They increase prices of inputs, reduce incentive for competitiveness and invite retaliation. Look how well tariffs have worked for Brazil and Argentina or for the US under Smoot Hawley.
The geopolitical calculations regarding China and the socioeconomic conditions of working class people in the Midwestern and Northeastern United States would beg to differ.
You need to have at least some control of your own manufacturing destiny for national security reasons, and you need somewhere for people with a high school diploma to work or they start dying deaths of despair.
This idea that we have lost manufacturing and we need some push to onshore it all again is... well... another manufactured problem that isn't.
It doesn't matter what the trade policy is: Those amounts/types of jobs are gone and won't come back with demand--not unless something else happens too, like outlawing robots and making unions mandatory.
The job situation is unfortunate but these jobs will not come. China has lost more jobs to automation than the US has to China. If we want people to prosper we need to build housing where the economy is and encourage people to move there.
While we have lost tons of factory jobs, we have created lots of service jobs that require similar skills. There has been a boom around jobs like solar installation, HVAC and similar. They just aren't as visible because it's a little bit everywhere, rather than a company or industry town.